Kellogg W. K. Foundation Trust Sells 114,583 Shares of Kellanova (NYSE:K) Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $80.64, for a total transaction of $9,239,973.12. Following the completion of the transaction, the insider now directly owns 48,878,693 shares of the company’s stock, valued at approximately $3,941,577,803.52. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Kellanova Stock Up 0.2 %

Kellanova stock traded up $0.20 during trading hours on Monday, hitting $80.70. The stock had a trading volume of 1,228,022 shares, compared to its average volume of 2,938,336. The stock’s 50-day moving average price is $80.81 and its 200-day moving average price is $73.46. Kellanova has a 12-month low of $52.46 and a 12-month high of $81.34. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $27.82 billion, a P/E ratio of 27.73, a price-to-earnings-growth ratio of 2.59 and a beta of 0.38.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period in the previous year, the business earned $1.03 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Equities research analysts anticipate that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were given a dividend of $0.57 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on K shares. DA Davidson lowered Kellanova from a “buy” rating to a “neutral” rating and increased their target price for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. Argus downgraded Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. StockNews.com began coverage on shares of Kellanova in a report on Sunday. They set a “hold” rating on the stock. Finally, BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a research note on Friday, November 1st. Fifteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $76.35.

Institutional Investors Weigh In On Kellanova

Several large investors have recently bought and sold shares of the business. Blue Trust Inc. grew its position in Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after purchasing an additional 170 shares during the period. CVA Family Office LLC grew its holdings in shares of Kellanova by 529.3% in the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after acquiring an additional 307 shares during the period. Newbridge Financial Services Group Inc. grew its holdings in shares of Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after acquiring an additional 200 shares during the period. MCF Advisors LLC increased its position in Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after acquiring an additional 137 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new position in Kellanova in the second quarter valued at about $39,000. 83.87% of the stock is currently owned by institutional investors.

Kellanova Company Profile

Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods in North America, Europe, Latin America, the Asia Pacific, the Middle East, Australia, and Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.